The Daily Startup: Venture Investors Back Nuclear Energy After a Lull

The $1.5 million Series a funding of Helion Energy Inc. is the second funding of a nuclear-power startup this year, signaling a return of investment to the sector after a lull of a few years. Earlier this month Founder Fund‘s new FF Science invested $2 million in Transatomic Power Corp., which says it can design and build nuclear reactors that are safer and more efficient. The $3.5 million invested in nuclear technology already is more than the $2.87 million in venture funding invested in 2011–the last year VCs put any money into nuclear energy, according to industry tracker Dow Jones VentureSource. In 2010 there also were two investments for a total of $85 million. The current investment in the nuclear startups, though, won’t get the projects too far. Helion Energy, which received its recent funding from from Mithril Capital Management and Y Combinator, said it estimates it would need between $30 million and $50 million for a prototype of its nuclear fusion technology that would be able to produce more than twice the energy it consumes.

ALSO IN TODAY’S VENTUREWIRE (subscription required):

Taris Biomedical Inc., which is developing a drug-device combination to treat bladder pain, had its world-wide rights for its lead program acquired by Allergan Inc. The Botox-maker has agreed to pay $67.5 million in upfront cash, as well as up to $295 million in developmental milestones and up to $225 million in commercial milestones. Flagship Ventures, Flybridge Capital Partners, Polaris Partners and Third Rock Ventures are investors in Taris.

Sprinklr Inc., which unifies social media channels for large corporate customers, agreed to acquire TBG Digital Ltd. for undisclosed terms. Sprinklr has raised $77.5 million from investors including Iconiq Capital, Battery Ventures and Intel Capital.

Goal Zero, a startup that sells portable solar power and battery-pack products, is being acquired by large independent power producer NRG Energy Inc. for undisclosed terms. Goal Zero previously raised $7 million from Mercato Partners.

Also: LA’s TenOneTen seeks op to $25 million for its first fund…SamsungacquiresSmartThings for its Internet of Things open platform…Cultivation Capitalinvests inWealth Access Inc., which provides wealth-management software to financial advisers…Bizzaboo connects with $2.5 million investment for its event app.

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ELSEWHERE AROUND THE WEB:

Square Tries To Set the Record Straight. In an unsigned blog post, mobile-payments company Square said it wanted to dispel ten “totally bogus” myths about the company, including that it’s struggling financially and that it tried to sell the company. In April the WSJ reported that Square had discussed a possible sale to several deeper-pocketed rivals including Google.

Whisper Launches Mental Health Nonprofit. Anonymous-messaging company Whisperlaunched a nonprofit site for emotional help, called YourVoice, reports re/code’s Nellie Bowles, in response to Whisper users who have confessed thoughts of suicide. The new site will include curated and user-submitted videos describing triumph over depression or anxiety. Whisper has raised $60 million in venture capital from firms including Shasta Ventures, Tencent, Thrive Capital, Lightspeed Venture Partners and Sequoia Capital.

Why No One’s Going to Win the Messaging War. Controlling the way we communicate is a valuable prize, says Selena Larson of ReadWrite in the first of a four-part series on the future of messaging. The shift from one-to-many communication, like Twitter and Facebook, to one-to-few, like WhatsApp and WeChat, is forcing startups and social giants alike to rethink their strategy.

DogVacay’s New App Features. Dog-and-pet boarding startup DogVacay has updated its iOS app with new features that will go a long way toward keeping its approval rating high, writes PandoDaily’s Michael Carney.

Stewart Butterfield’s Spectacular Failures. The fast rise of workplace collaboration tool Slack represents the second time the company’s founder has scored a hit that arose from his failed attempts to create a “never-ending game,” PandoDaily’s Sarah Lacy reports.

Tech IPOs Can Double by 2016. New IPO rules have helped put tech companies on firmer footing, and public offerings in future years will be twice the current levels based on the high quality of venture-backed companies and the demand from institutional investors, writes Sandy Miller, general partner at Institutional Venture Partners, in a guest post for TechCrunch.

Why There Aren’t Many ‘True Angels’ Left. Entrepreneur and angel investor Elad Gil tells StrictlyVC why many individual angels who are successful investing choose one of two paths — raise their own fund, or join a traditional venture firm—rather than sticking with what worked.

Lightspeed Venture Partner Joins Intel Capital.Tim Danfordleft Lightspeed Venture Partners for Intel Capital, the investment arm of Intel, the WSJ’s Deborah Gage reports. He joined Lightspeed in 2013 from Storm Ventures, where he was a managing director.

Club Penguin Founder’s New Venture.Lane Merrifeld, founder of Club Penguin, a kid-safe gaming company that sold to Walt Disney Co. in 2007, rounded up $4.3 million in financing for his latest startup, FreshGrade, a collaboration platform for teachers, school administrators, students and parents, the WSJ’s Lora Kolodny reports.

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